Tri Cities Real Estate News & Market Trends

Tri Cities Living blog offers up to date real estate tips and tricks about buying and selling a home in Tri Cities WA. You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

April 18, 2014

Buy a car or buy a home?

This week is the 50th anniversary of the Ford Mustang.  Even if you've never owned one, everybody seems to have at least one Mustang story from the past.  I have quite a few, some fun and one not so fun one. :)

 

I wondered what the new mustangs are going for and did a quick search.  It seems the 50th anniversary, limited edition models will be scarce and prices have not yet been disclosed but I expect them to be significantly higher than the GT's I found online.

 

Looks like you can pick up a Mustang GT with most of the bells and whistles for around $30,000.  With nothing down, that leaves you a payment of around $940.00 per month for 3 years, per the payment calculator on their site.

 

I like a good Mustang as much as the next guy but that got me thinking about what type of home you could buy here in the Tri Cities for a $940.00 payment.

 

At current mortgage rates, a zero down purchase utilizing the Tri Cities Home Consortium down payment assistance program, you could buy a $140,00 home for roughly the same monthly payment.  Of course this would be for a 30 year term, not a 3 year like the Mustang but the likelihood of the home surviving 30 years is much greater than the Mustang. (see "not so fun" story)

 

Back to that $140,000 house in Richland, Kennewick or Pasco:

 

Available homes range from a 5 bedroom 2500+ sq ft home to a 2 bedroom 960 sq ft for the same monthly price as the stang.  I didn't see any homes with GT racing stripes, but of the 20 currently available, there are several nice lookers currently available.

 

If you dream is to race the back roads of America in a new Mustang, more power to you!

 

If your dream is to own a home, give me a call.  I can help 509-420-0013.

Posted in Buying a home
March 12, 2014

Sell your North Richland Home

Homes for sale in North Richland WA are in high demand historically and my look into the market today confirms they still are today.

 

Search homes for sale in North Richland

 

North Richland's housing market is a diverse mix of single family homes, both large and modest, condos, town homes and even some apartments.  The area is popular with those working at PNNL, EAS, WSU, Westinghouse, Hanford or any of the other high paying employers located in the Industrial area to the North.  Biking to work or a short 5 minute commute to work is an attractive option for many people calling North Richland home.

 

It's close proximity to the Columbia River and Leslie Groves park make it a popular destination for active people that enjoy spending time outdoors.  You can bike, run or walk for miles along the river on the trail you can access just minutes from your home.  Add in the boat launches, sports fields, picnic shelters, beach volley ball courts and our swinging benches and it's easy to see why North Richland is a local favorite.

 

Looking into the past 6 months of real estate activity in North Richland reveals a stable market at this time.

 

Available North Richland homes and condos on the market as of today: 38

 

Sold homes over the past 6 months in North Richland: 60 with 17 of those selling in less than 30 days

 

10 homes currently under contract which supports the absorption rate of 10 homes per month.

 

If you are planning on selling a home in North Richland, you'll need to be one of those top 10 homes that sells each month.  If getting top dollar for your home is important to you, pay careful attention to pricing with regards to your home's condition and staging.  Showcasing your home where the most coveted home buyers are looking is another key aspect of getting into that top 10 quickly.

Posted in Market Updates
Feb. 26, 2014

Tri Cities Living

You may have landed on this page for any number of reasons.  Perhaps you've been offered a position at Hanford or PNNL?

 

Maybe you are looking for a nice place to retire?

 

Possibly looking to get out of the hustle and bustle of the big city and raise a family in a more relaxing atmosphere?

 

Could you be a fellow Realtor looking for a Real Estate broker in the Tri Cities to refer your clients too?

 

Or maybe you are just bored at work and surfing the web? :)

 

There are many reasons people choose to live and work in Kennewick, Richland or Pasco but rather than attempt to address as many as possible in a short blog post, I'll share with you why my family chose to live here.

Where we came from

 

I was born and raised in the suburbs of Seattle in King County Washington. Growing up there was great, we had access to many parks, beaches, boating on the Sound and all that Seattle had to offer, plus easy access to the mountains for hiking and exploring. As I grew up, we watched Seattle grow from a somewhat sleepy little city driven by the economic engines of aerospace, fishing and timber into a thriving world class city and arguably the center of the tech universe, sorry silicon valley.  But it wasn't all sunshine and lollipops.

 

Along with all of that growth came a lot of extra people and urban sprawl.  The infrastructure just couldn't handle the growth and Seattle now has some of the worst traffic in the country. Still a great place to visit, but it's just too crowded for us now.

 

When I met my wife, we bought our first home in the South Hill of Puyallup because that's where we could afford a home offering the lifestyle we were searching for.  It was a wonderful place to raise our two oldest children but eventually development found Puyallup as well.  The infrastructure in the Puyallup area just could not keep up with the demand for affordable housing and the traffic congestion reached intolerable levels for us.

Planning our escape from the West side

 

When our oldest two children were headed off to college, my wife and I realized we had a unique opportunity to move to another area that offered the activities, lifestyle and weather that we were looking for. It was a tough decision, after all we would be leaving most of the friends and family in the area and striking out on our own once again.

 

I had been working hard for 9 years to build a thriving and successful real estate brokerage and my wife had been with her employer for 13 years.  We would both essentially have to start over in our careers, I would once again be building my real estate brokerage from the ground up and she would be starting at the bottom of the seniority list here.  It was a big move and we needed to get it right the first time.

 

We began to research many areas in Washington, looking at school rankings, the local housing markets, existing infrastructure to handle growth, crime levels, recreational opportunities and the general feel of the community.

 

It was at this time that I realized how sorely the Tri Cities needed a website like TriCitiesLiving.com.  There is a lot of statistical info available on the web, but I wanted to know what it was really like to live here.  That info just wasn't available in one easy to access website.

 

We began to visit different communities around the state that appeared to offer what we were looking for in a new home.  We needed somewhere with a stable, active real estate market, strong employment, great schools, excellent hospitals, nearby outdoor recreation and sunshine!  We found all that and more upon our first visit to the Tri Cities.

 

In the Spring of 2013, we made a total of 3 trips to learn and explore more about the area and each time we came back more convinced that the Tri Cities was where we should call home.  We ultimately made the move in the early Summer of that year and have enjoyed every day since.  My only regret is that we did not move here years ago!

What is the future of TriCitiesLiving.com?

 

On the pages of the real estate website you will find information about the local real estate market, including all available homes for sale in the various communities that make up the Tri Cities.  You are welcome to browse the listings and phone or email to arrange a convenient time to visit the homes you are interested in purchasing.  If I can't answer the phone right away, I'll be sure to get back to you as soon as I can.  While I've been a relocation real estate agent for years, having just gone through the process as a consumer has sharpened my focus.  I understand the need for local information from someone who has experience living in the area more than ever.

 

If you are looking for more specific information about what it's really like to live in the Tri Cities, you'll want to browse through the future postings in my blog.  It will be my goal to showcase my favorite parts of living here including, recreation, dining, shopping, adventures in the wine country and occasionally the real estate market.

 

Whatever the reason for your visit, I'm glad you stopped by and visited my website today!  Stay tuned for more articles about living in the Tri Cities and I hope to talk with you soon. 

Posted in Tri Cities Living
Feb. 16, 2014

Richland BMX Track

Looking for something to do with the young ones in Richland?  You might want to take them out to the BMX track and let them cruise a few laps around the track. 

My friend Josh told me about the track and it turns out I've been driving right by it all year and never knew it was there.  We arranged a time to meet and I brought my son to try out the track. (I also brought my mountain bike along which almost turned out to be a really bad idea!)

Now I don't know a lot about BMX racing, we just didn't have tracks like this available when I was a kid, but this BMX track in Richland is pretty impressive to me!  With a true starting gate, well groomed jumps, a rhythm section, asphalt berms and fully lit for night riding, it's pretty clear there was considerable time and effort put into the track.  It's also a ton of fun and good exercise.

With some quick coaching from Josh's son, my boy was riding around the track in no time and having a blast.  Of course this lead him to challenge the old man to a race.  I pulled out my bike and settled into the starting gate. As it was my first time on a track, I took it easy and just cruised around the track.  Since I survived that run, I figured I'd see if I could speed up and make it a race the next time around.  Que the Seahawk Jump pictured below.